Is It Important To Get Authorised Economic Operator (AEO) Status?
The trust mark has been adopted by traders and logistics service providers around the globe. But, how important is it for you to get AEO status? And what are the benefits? The benefits of AEO status depend on the type of business you are conducting and the type of licence you acquire.
Facing the Complexity of Goods Classification
Goods classification, together with the country of origin and customs value, is used by the customs authority to determine the number of import duties or other levies that need to be paid.Ā Customs Authorities may find you are using the wrong HS Code when they check one of your shipments. When you are AEO Certified, the Customs Authority periodically audits your company. During these audits, they also check the quality of your product classifications.
What Types of Authorised Economic Operator Licences Are There?
Authorised Economic Operator (AEO) status holders benefit from simplified customs procedures due to their trading practices being audited and proven compliant. This allows them to trade at a reduced risk of customs inspections.
The Benefits of an AEO Certified Customs Agent
Customs Support Group is AEO Certified. Great! But what does that mean?Ā AEO stands for Authorized Economic Operator. It is a concept that has been established by the European Union in 2008. The main goals are increasing international supply chain security and facilitating legitimate trade.